how much should your sixty foot improve by doing this mod?
Could be zero improvement. This modification doesn't directly impact a 60' time, it is an indirect modification. This allows (requires) the use of a lowered gas tank and tailsection for the cut frame. The rider is then lower and farther forward in the chassis making the center of gravity lower and farther forward.
If you have the power, gearing, and traction available to "turn the bike up", you should be able to leave harder without having teh front end lift. If you do not have any issues with the front end as is, this mod will likely provide very little change in your short time, other than that of the weight reduction from the cut frame and fiberglass tank.
Below is a picture of Ronnie Mitchel's bike, ridden by Bud Yoder. Note the seat area and talisection. Stock seating location is approximately where the step in the tailsection is.
John